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Opalesque Exclusive: Cadiz pan African fund returns 1.90% since its October`08 inception
Opalesque received a communication regarding a new South African hedge fund, launched in October 2008, called the Cadiz Pan African Diversified Opportunities (PADO) Fund. It targets high absolute returns in a risk controlled environment by capturing the spectrum of return opportunities in Africa using an uncorrelated range of liquid investment strategies. Strategies include macro, quantitative, fundamental L/S, special sits.
The fund targets 20% p.a. in US$ with 10% volatility. It was seeded by European investors on 1st October 2008, delivered +2.19% for December 2008 and +1.90% for 2008. It currently manages $11m. In December, the team analysed the pros and cons of extracting yield from the various asset classes and took an active decision to select highly liquid underlyers.
Cadiz African Harvest Asset Management (Pty) Ltd is based in Claremont, South Africa.
Related article: South African investors less exposed to Madoff, here’s why
From Persfin.co.za: Investors in South African hedge funds are less likely to be subject to scams such as the US$50-billion Ponzi scheme operated by Madoff... Local investors, including retirement funds, are understood to have had indirect exposure to Madoff, but it is unknown to what extent…
There are various reasons why investors are not at such high risk in South Africa. These include:
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